HPCL plans Rs 30-k cr SEZ in Vizag
Hindustan Petroleum Corporation is planning to invest Rs 30,000 crore for setting up a mega refinery complex in the special economic zone in Visakhapatnam.
By TNN |
HYDERABAD: Hindustan Petroleum Corporation is planning to invest Rs 30,000 crore for setting up a mega refinery complex in the special economic zone in Visakhapatnam.
The Andhra Prdaesh government has allotted 1,500 acres to the company for what could be considered as one of the largest investments in the state.
HPCL is also planning to set up an aromatic plant and naphtha crackers in the allotted land, according to a government release on Tuesday. The funding, business plan and timeframe of the mega project are yet to be finalised, said sources.
The Andhra Pradesh Industrial Infrastructure Corporation has already acquired 9,200 acres for the SEZ in Vizage. Nearly 2,800 acres have been allotted to Bhabha Atomic Research Centre and 1,000 acres to garment manufacturer and exporter Brandix Lanka.
“While Brandix is planning to invest Rs 600 crore for its unit, BARC will pump in Rs 1,000 crore for setting up its R&D centre in the SEZ,” said a government official. With the HPCL refinery, the zone may also attract petrochemical and other allied industries.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
